Blockchain Means Digital Ledger Technology

Beyond the digital currency hype is a foundational technology named Digital Ledger Technology. Earlier attempts along these lines were about securing digital documents from back-dating or other tampering. Today Blockchain is a digital revolution that could be positioned as the fifth disruptive computing paradigm after mainframes, PCs, the Internet, and mobile/social networking. In print is the volume; Blockchain: Blueprint for a New Economy - by Melanie Swan. This read appears interesting and informative. Lets go a little deeper. Inside each block in a blockchain is some data, and also a finger print of the block called a hash. A hash is a randomly generated alphanumeric where the probability is unlikely it can be copied. Each block in a Blockchain also contains the finger print or hash of the previous block. Information in the Block is also distributed where multiple copies of Blocks are distributed to many computers. One aspect of the security of Digital Ledger Technology is the fact that if a hacker wants to change the information on any block they will also have to change the information on the many computers that contain copies of the block data and finger prints. While this is possible since computers are so fast there is an additional concept where Proof-of-Work slows down the creation of blocks. This gives time for Blockchain owners to identify that some corrupting influence is occurring on they're Blockchain. If a block in the chain is found to be corrupted - all following blocks will be corrupted also. The Blockchain will have evidence that some intrusion has occurred. Blockchains are more than the foundation of digital currency. Blockchains can be applied to paying taxes, and I am thinking Basic Skills in Education. Interested in Digital Ledger Technology? Watch This: https://www.youtube.com/watch?v=SSo_EIwHSd4